Flip the Pyramid—Minimise Inefficiencies and Focus on Strategy
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This is a guest blog Linda Sandberg, Consultant at REC business partner Vision33
In today’s competitive recruitment industry, firms are constantly looking to drive growth, streamline operations, and minimise risk. While front-office technology like CRM and applicant-tracking systems often take priority, the finance system is the backbone of the operation.
Without a robust financial foundation, recruitment businesses face bottlenecks, compliance risks, and missed opportunities.
What is the cost of inefficiency?
Many of the common issues caused by a poor finance system create a snowball effect, leading to even more inefficiencies and operational pain.
Here’s how these inefficiencies affect recruitment firms.
Financial impact/hard cash spending:
- Lost revenue from delayed or incorrect billing
- Lost revenue opportunity due to sales or customer success teams being tied up with non-revenue-generating activities, such as resolving customer complaints
- Reduced profitability due to a lack of visibility into which placements or recruiters generate the most revenue
- Increased staff costs to manage manual finance processes
- Overspending on IT services due to outdated on-premises software or reliance on small entry-level solutions
Operational impact/soft cash spending:
- Time wasted—Finance teams spend excessive time on manual data entry and administrative tasks
- Inaccuracies—Heavy human interaction with systems that lack full audit control increases errors
- Lack of oversight—The inability to access real-time financial data quickly means lost opportunities and revenue
RISKS:
- Reputational damage
- Lost customers
- Friction between internal departments, increasing the risk of talent loss
- Barriers to growth
- Falling behind competitors
- Worst-case scenario: Increased risk of bankruptcy
From transactional to strategic
Recent studies show that most finance teams spend the majority of their time on manual processes rather than strategic, value-adding activities that contribute to business growth.
Image source: Sage Software publication: A More Intelligent Future: How AI Elevates the Work of Your Finance Team
So, what can you do?
The solution is clear: a modern, cloud-based finance system that automates processes and integrates seamlessly with key business systems like CRM, time & billing, and payroll.
This transformation allows finance teams to shift from a transactional role to a strategic one, driving business success.
- Say YES to hard cash savings
- Say YES to soft cash savings
- Say GOODBYE to risk!
A best-of-breed finance system like Sage Intacct will save your business money—fast!
On average, Sage Intacct customers achieve remarkable efficiency and profitability improvements
And to ensure your success…
A successful finance transformation isn’t just about the software—it’s about having the right implementation partner. Vision33, a trusted REC partner, provides expert guidance and tailored support to ensure a smooth transition and measurable ROI.
Quiz! What do I do next?
Select your answer:
- Conduct my own tedious research to figure out which finance system I need and how to integrate it with other systems…and ultimately get overwhelmed.
- Do nothing…and risk falling behind the competition.
- Contact Vision33, an REC partner, and let their experts guide me through a successful ROI plan that increases profitability, saves time, and reduces risk.
You know the answer! The time to act is now—contact us today!
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